Sunday, November 28, 2010

Joy for thugs in Cancun: GreenX approved for carbon trading in US in Jan. 2011. Another leech that produces absolutely nothing.

GreenX, another group who produces absolutely nothing, trading an invisible commodity loved by organized crime. It's just a click on a computer. 'Migrations' "expected to occur between trade dates January 21 and January 24, 2011. "..."Green Exchange Designated contract Market, DCM"

9/30/10, NY/London: "Green Exchange LLC ("GreenX") today announced the date for the migration of the environmental suite of products currently listed and traded on the New York Mercantile Exchange, Inc. ("NYMEX") Designated Contract Market (DCM) to the Green Exchange DCM. The European and US environmental futures and options contractswill be transferred from NYMEX to the Green Exchange DCM for trade date January 24, 2011 granting oversight of and responsibility for the migrated contracts to the new Exchange. NYMEX currently has over 32,000 contracts of open interest across a global customer base in the Green Exchange products, and the transfer of all client positions from NYMEX to Green Exchange is expected to

occur between trade dates January 21 and January 24, 2011.

Tom Lewis, Chief Executive of Green Exchange, commented: "Concurrent with the existing futures and options contracts listed and traded on NYMEX, we have been working for over a year to lay the foundation to establish a stand-alone exchange. We recently announced our designation as a contract market by the US CFTC, admitted our first clearing member, and have seen a marked increase in our trading volumes. We will continue to work with

the global carbon trading community

to understand their needs and will be making further announcements soon regarding other enhancements to our products and services."

In addition, Green Exchange has announced it intends to list a

Daily European Union Allowance (EUA) Futures Contract

to begin trading on November 1, 2010. This physically deliverable futures contract will initially be listed on the NYMEX DCM, cleared by CME Clearing, and will be transferred to Green Exchange alongside the existing suite of environmental products. The Daily EUA Futures Contract will trade on CME Globex® and will be available for OTC clearing through CME ClearPort®. This will be the first daily expiration futures contract listed via CME Globex®, and as such represents new functionality within CME Globex®....

The Daily EUA Futures contract will concurrently list two consecutive delivery dates for trading: one for the current trading day and another for the next trading day, providing participants